This monthly report is custom-designed to keep you updated on your home's value and sales activity within Palm Cove and throughout Martin County. We hope that you find it useful.
According to the Multiple Listing Service (MLS) of the Realtor Association of Martin County and Martin County's public records, the following home sales activity occurred in Palm Cove Golf & Yacht Club in July of 2025.
Eight (8) homes are for sale in Palm Cove, down one (1) from last month, and two (2) homes are for rent. Seven (7) homes were for sale during the same period last year.
There were three (3) home sales in Palm Cove in the first week of August. There were two (2) home sales in Palm Cove during the same period last year.
There is one (1) home under contract in Palm Cove. Nine (9) homes have sold in Palm Cove year to date, compared to nine (9) home sales in the same period last year.
Below is a breakdown of properties by type, the number for sale, and list prices.
SUMMARY:
FOR SALE (8)
2394 SW Island Creek Trail - 1,513 sq. ft. under air - $585,000
2381 SW Island Creek Tr - 2,037 sq. ft. under air - $615,000 - New Wave Realty
855 SW Pebble Lane - 2,101 sq. ft. under air - $630,000- no pool - New Wave Realty
736 SW Pebble Lane - 2,045 sq. ft. under air - $675,000 - no pool
879 SW Pebble Lane - 2,369 sq. ft. under air - $695,000 - no pool - New Wave Realty
2408 SW Island Creek Tr - 2,750 sq. ft. under air - $799,000
2119 SW Balata Terr - 3,699 sq. ft. under air - $1,495,000 $1,315,000 - New Wave Realty
1979 SW Balata Terr - 4,961 sq. ft. under air - $1,650,000 $1,590,000 $1,475,000
FOR RENT (2)
2358 SW Island Creek Trail - 2,750 sq. ft. under air - $3,200 per month
2381 SW Island Creek Tr - 2,037 sq. ft. under air - $615,000 - New Wave Realty
PENDING (1)
58 SW Palm Cove Drive - 5,257 sq. ft. under air - $1,700,000 - New Wave Realty
RENTED (0)
SOLD IN AUGUST (3)
119 SW Hatteras Ct - 2,860 sq. ft. u/a - list $1,249,000 - sold $1,015,000 -New Wave Realty
254 SW Harbor View Dr - 3,651 sq. ft. under air - $1,299,999 - sold $1,200,000
166 SW Palm Cove Drive - 4,818 sq. ft. under air - $3,495,000 - sold $3,400,000
TOTAL SALES IN 2025 (9)
119 SW Hatteras Ct - 2,860 sq. ft. u/a - list $1,249,000 - sold $1,015,000 -New Wave Realty
254 SW Harbor View Dr - 3,651 sq. ft. under air - $1,299,999 - sold $1,200,000
166 SW Palm Cove Drive - 4,818 sq. ft. under air - $3,495,000 - sold $3,400,000
856 SW Pebble Lane - 2,345 sq. ft. under air - $689,000 - no pool - sold $648,000
2442 SW Island Creek Tr - 2,765 sq. ft u/a - $925,000 with pool - sold $885,000
2610 SW Bridgeview Terr - 3,364 sq. ft. under air w/slip - $1,375,000 - sold $1,295,000
2381 SW Carriage Hill Terr #203 - 2,284 sq. ft. - ask $489,900 - sold $475,000
2385 SW Island Creek - 2,037 sq. ft. - $550,000 - sold $500,000 New Wave Buyer & Seller
982 SW Palm Cove Drive - 2,669 sq. ft. under air w/slip - last ask $749,000 - sold $735,000
Available Slip Certificates (6) Number Asking Price Survey Length Contact 1-4 $52,000 41.4 SLL (lift) Allen (772) 486-9088
3-18 $45,000 35.8 SLL Schuster
5-1 $70,000 49.8 SLL McCluskey (772) 214-8460
5-2 $69,000 49.9 SLL Forsythe (508) 962-4243
5-11 $48,000 50.8 SLL (lift) Hulle (954) 214-7812
6-1 $60,000 44.7 SLL Tannone (860) 490-9724
Beam Limitation 11.5
For more info, please get in touch with Palm Cove's Marina Manager at [email protected] Closed Home Sales for the month were 177 down from 188 the previous month, and down 2.2% from 181 during the same period the prior year. Cash Sales for the month were 83 down from 93 the previous month, and down 15.3% from 98 the prior year. Median Sale Price for the month was $648,000 up from $609,500, the previous month, and up 3.7% from $625,000 the prior year. Average Sale Price for the month was $1,022,681 down from $1,058,509 the previous month, and up 14.5% from $892,934 the prior year. Median Time to Contract for the month was 56 days up from 54 days the previous month, and up 75% from 32 days the prior year. Inventory (Active Listings) for the month was 939 down from 1,008 the previous month, and up 29.2% from727 listings for the same period last year.
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Here's some more news you can use:
Primary Mortgage Market Survey
MORTGAGE RATES CONTINUE TO DECREASE
The 30-year fixed-rate mortgage dropped to its lowest level since April. The decline in rates increases prospective homebuyers’ purchasing power and Freddie Mac research shows that buyers can save thousands by getting quotes from a few different lenders.
- The 15-year fixed-rate mortgage averaged 5.75%. At this time, a year ago, the 15-year FRM averaged 5.85%.
Looking Ahead
Economists expect mortgage rates to hover near current levels through the summer, with gradual declines possible by late 2025 especially if inflation continues to ease and the Federal Reserve begins lowering interest rates.
In Palm Cove, motivated sellers should continue leaning into strategic pricing and professional staging to stand out in today’s selective market. Buyers may find opportunities in reduced competition and increased negotiation power, particularly as more inventory comes online. Maintaining flexibility on both sides will be key to securing strong deals as the market shifts.
***************************************************************************** Palm Cove Market Update & Real Estate Insights
Dear Friends and Neighbors:
Whether you’ve been out on the water, enjoying summer gatherings, or simply soaking in our beautiful location, I hope you are having a fun summer.
Your continued trust, referrals, and friendship are what keep my business thriving, and I never take that for granted. As we move through the rest of summer, I’m here to provide insight, guidance, and market expertise, whether you’re planning a move soon or just curious about your home’s value. Here’s to smooth waters, sunny days, and making the most of these warm months! With gratitude,
Sara Crombie
New Wave Real Estate Group
Your Neighborhood Real Estate Expert! |
